Zora's recent launch on the Solana blockchain resulted in the creation of over 620 tokens, according to Pine Analytics. The platform experienced a surge in activity during the initial hours, with 50-90 tokens minted per hour. However, this pace slowed down significantly over time. Trading activity mirrored this trend, with 600-1,200 transactions involving 200-300 unique wallets occurring in the first few hours before declining.
Approximately 75% of these transactions were processed through dFlow, with OKX ranking as the second most used platform. Many of the remaining transactions, which were not routed through these platforms, are suspected to be arbitrage bots directly targeting liquidity pools. Despite the initial activity, the top tokens saw disappointing trading volumes, with the highest reaching under $250,000 in 24 hours, and most tokens trading below $10,000.
Zora Launch on Solana Sees Initial Surge in Token Creation and Trading
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